The Biz Buzz

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Category: Commercial Real Estate

July
11th

Tacoma’s first new major hotel in eight years opens near UWT

When Caroline Curtis and Vickie Molzer unlocked the front doors of the Holiday Inn Express Downtown Tacoma  Thursday afternoon, that simple, unceremonious event marked the informal end of seven years of planning, negotiation and construction that brought Tacoma its newest major hotel.

First conceived in 2006, the hotel developed by Seattle-based Hotel Concepts, slogged its way through numerous city design reviews, architectural modifications and the sluggish economy to finally become reality at 1 p.m. Thursday.

Curtis, operations manager for hotel operator BMI Hospitality and Molzer, the hotel’s first general manager, did the honors, and the hotel received its first guests.

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June
27th

New Foss apartment could break ground in September

A new waterfront apartment building, the first built on downtown Tacoma’s Thea Foss Waterway since the recession began six years ago, could break ground as early as September.

The 167-unit Henry Apartments are planned for a site between the existing Albers Mill and the Interstate 509 cable-stayed bridge over the waterway.

The Foss Waterway Development Authority has been expediting the deal that will allow the construction to begin since early this spring when it requested proposals for the site.

The authority’s board Wednesday night voted unanimously to sell the lot, called Site 1 by the authority, to the Henry Group,

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June
21st

Planning meeting to discuss first steps in major developments to North Downtown – including Stadium District

More people, bigger buildings, more pollution, transit, housing, commerce … whew!

If you live in, work in, own property in or care about Tacoma’s North Downtown area, then you might want to attend a public meeting that will discuss the impact of development there over the next few decades.

For planning purposes, North Downtown roughly runs from the Thea Foss Waterway to Yakima Avenue and from South 15th Street up through the Stadium District, to include Wright Park, the St., Helens District and Tacoma’s commercial core.

The meeting is scheduled for 5:30 p.m. on Wednesday, June 26, in the main

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June
18th

City of Tacoma puts out a request for developers to build on downtown’s biggest undeveloped site

This just in via e-mail from the City of Tacoma: A solicitation has gone out to dozens of developers, brokers and investors, asking for proposals to buy and develop downtown’s biggest undeveloped site.

The so-called 6-acre parcel, once planned to be the site of the police headquarters, has been vacant since 2002,  just up the hill from the University of Washington Tacoma. The city wants “(h)igh quality projects that contribute to the area’s vitality” for the site. Proposals are due by Aug. 20.

Read the RFP here.

The parcel most recently was targeted by the Asia Pacific Cultural Center

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June
17th

Tacoma home builder, developer and entrepreneur Oscar Hokold dead at 98

Oscar Hokold, who grew a small home-building concern  into a business empire that included a chain of motels, thousands of apartments, a restaurant and condominium development company, has died at age 98.

The son of Norwegian immigrants, Hokold passed away on June 5.  A private family service has already been held. His wife of 71 years and business partner, Olivann, died two years ago at 96.

Hokold was best known for his string of King Oscar motels in Western Washington, his Oscars on Hosmer restaurant and the 14-story Pacific Towers condominium that overlooks downtown Tacoma at 3201 Pacific Avenue.  During

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June
11th

UPDATED: More apartments planned for Tacoma’s St. Helens neighborhood?

As Exit133.com noted earlier today, one of the developers of The Metropolitan, at 245 St. Helens Ave., is going through environmental review for a new 121-unit apartment building.

The Land Use application, published yesterday, is a public document, and can be read here. It’s a PDF. It also shows the project is in the very early permitting stages.

The details included there show the project would be at the corner of Broadway and South 4th Street, just down the hill from the existing Metropolitan on what is now a vacant lot used for parking. In addition to apartments, the

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June
10th

Tacoma’s Franciscan Health System expands its reach to Bonney Lake with new medical pavilion

Tacoma’s Franciscan Medical System has expanded its reach in Eastern Pierce County with the opening of a new, three-story, 45,000-square-foot medical pavilion in Bonney Lake.

The new building’s occupants will provide family medicine, internal medicine, digital x-ray, urgent care, pharmacy and labratory services on site.

“We are pleased to be able to bring Franciscan’s mission of healing to residents of Bonney Lake, Sumner and Eastern Pierce County, “said Franciscan Medical Group President and Chief Medical Officer Dr. Stephen Spare  “The pavilion is the result of Franciscan’s mission to create healthier communities by offering high quality care in a calming environment

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June
6th

Long-awaited downtown Kent residential and retail project will begin next month

A long-awaited Kent residential and retail project at a key downtown intersection will begin construction next month.

The five-story, mixed use building will contain 176 apartments, 3,100 square feet of retail and 35 public parking places in addition to parking spots for residents.

The project is being developed by Seattle’s Goodman Real Estate. The building is being designed by Studio Meng Strazzara.

The construction site occupies a strategic location near the Kent Station retail development and Kent’s historic downtown district.  The project will be called “The Platform” because of its proximity to Sound Transit’s Kent Sounder commuter rail station and

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